Energy Transfer (NYSE:ET) Reaches New 52-Week High – Should You Buy?

Shares of Energy Transfer LP (NYSE:ET) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.73 and last traded at $17.71, with a volume of 2075487 shares. The stock had previously closed at $17.58.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ET shares. UBS Group lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Up 1.4 %

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $61.05 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. The firm has a 50 day moving average price of $16.45 and a two-hundred day moving average price of $16.11.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.23%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. grew its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Energy Transfer in the 1st quarter worth about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.